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Chapter 14: The Balancing Act > Balancing a Bank Account

Balancing a Bank Account

As we just mentioned, balancing a bank account is quite easy in QuickBooks. In fact, we’ll go so far as to say that if you have any problems, they stem from . . . well, sloppy record-keeping that preceded your use of QuickBooks.

We get started by describing how you reconcile an account.

Giving QuickBooks information from the bank statement

In a reconciliation, as you probably know, you compare your records of a bank account with the bank’s records of the same account. You should be able to explain any difference between the two accounts – usually by pointing to cheques you wrote which haven’t yet cleared. (Sometimes deposits fall into the same category; you record a deposit, but the bank hasn’t yet credited your account.)


  

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